Srilanka, July 20 -- The International Finance Corporation (IFC), a member of the World Bank Group, and HSBC are investing up to $40 million through financing in South Asia Gateway Terminals (Pvt) Ltd. (SAGT) to modernize and decarbonize operations at the Port of Colombo, the cornerstone of Sri Lanka's maritime trade. The investment will advance the port's competitiveness, resilience and sustainability, reinforcing its position as South Asia's leading transshipment hub and deepening Sri Lanka's connectivity to global markets.

The financing package - a sustainability-linked loan of up to $20 million from IFC, including up to $8.57 million mobilized through IFC's Managed Co-Lending Portfolio Program (MCPP), and a parallel green loan of up...